Gradients vs Chutes

Chutes (SN64) is 5.4× the size of Gradients (SN56) by market capitalisation. Over the past 30 days, SN56 is ahead by 27.4 percentage points (SN56 +23.9% against SN64 -3.5%). Their daily returns move very closely together (correlation 0.93 across 24 shared trading days). SN64 has been the more volatile of the two, at 140% annualised against SN56's 109%.

Correlation: 0.93
Size ratio: 1 : 5.4
Ahead over 30 days: SN56

GradientsSN56

$3.3000

24h: +0.03%
Market cap: $18.32M
Volume 24h: $69,694
Volatility (ann.): 109%

ChutesSN64

$15.7700

24h: +4.52%
Market cap: $99.77M
Volume 24h: $475,562
Volatility (ann.): 140%

SN56 15.5%Share of the two combined market caps84.5% SN64

Performance

SN56SN64

7 days+0.00%-8.16%SN56
30 days+23.95%-3.47%SN56

Correlation

0.93over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	SN56	SN64
Max drawdown (400d)	-20.8%	-32.6%
Risk-adjusted return (90d)	0.22	0.03

Relative strength over 90 days: SN56 outperformed SN64 by 4.2% — measured on the SN56/SN64 ratio, so it holds regardless of market direction.

Gradients →Chutes →